**Interview with Minister Ni Hong on Recent Policies for Youth and Economic Stability**
**Interviewer:** Minister Ni, could you shed some light on the recent set of policies that were launched at the end of September? What impact do you believe they will have on families and young people in China?
**Ni Hong:** Absolutely. The recent policies are designed to address critical issues within our economy while also providing substantial support for people’s livelihoods, particularly regarding young citizens. For instance, we’ve lowered mortgage rates for existing homes, which will benefit around 50 million households, reducing their annual interest expenses by approximately 150 billion yuan. We’re also seeing a significant approval increase for loans related to “white list” projects in the real estate sector, aiming to exceed 4 trillion yuan by the end of the year.
Additionally, we’re set to implement changes facilitating the renovation of rural communities and dilapidated buildings, as well as ensuring that 4.5 million new city residents and young people have access to affordable housing. The goal is to provide stability and a sense of belonging to our young citizens through initiatives that are both practical and impactful.
**Interviewer:** It sounds like there is a clear commitment to youth welfare and economic stimulation. What measures have been taken specifically for students in higher education?
**Ni Hong:** We are indeed driven to support our students significantly. Recently, we made adjustments to student funding policies, which include doubling the number of national scholarships for undergraduate, master’s, and doctoral students. For undergraduates, we’ve raised the scholarship amount from 8,000 yuan to 10,000 yuan annually. These changes reflect our commitment to enhancing financial assistance for students, thereby improving their overall educational experience while also easing financial burdens.
**Interviewer:** There have been notable recent adjustments to interest rates as well. How do you see these changes influencing economic growth?
**Ni Hong:** The reduction of the loan market quoted interest rate (LPR) by 0.25 percentage points is a significant move. It allows for further reductions in existing mortgage rates, translating to savings for homeowners. For example, a household with a mortgage of 1 million yuan could save about 170 yuan monthly due to the new rates. This kind of easing will likely invigorate consumption and support the overall economy.
**Interviewer:** You’ve mentioned a range of proactive measures aimed at sustaining economic growth. How do these relate to long-term goals for young people’s employment?
**Ni Hong:** We recognize that the economic environment poses challenges, particularly in the real estate and capital markets. The recent economic policies underline our dedication to addressing these issues. Our strategy not only aims at immediate relief but also focuses on developing long-term conditions for high-quality growth. Employment opportunities for young people are critical, and our financial support of industries and skills training plays a crucial role in this strategy.
**Interviewer:** Many are curious about the specific housing policies for new residents and young people. Can you elaborate on how these policies will guarantee housing security?
**Ni Hong:** Certainly. We have established a framework of policies designed to enhance housing security for youth and new residents. This includes eliminating restrictions on purchases and selling properties, as well as reducing the financial burdens associated with housing loans. The collective efforts of various government departments aim to ensure that everyone, especially young people, has access to secure and affordable living conditions. We’re focused on building a sustainable environment for our youth to thrive.
**Interviewer:** Finally, it’s encouraging to see governmental focus on youth welfare, but what’s your vision for how these policies will enhance overall societal well-being?
**Ni Hong:** My vision is clear: investing in our youth is investing in the future. By supporting education, improving job prospects, and ensuring affordable housing, we are laying the groundwork for a more equitable and prosperous society. Our ultimate goal is to foster a sense of hope and opportunity within our young population—where their aspirations can materialize, leading to a more dynamic economy and community overall.
**Interviewer:** Thank you, Minister Ni, for sharing these insights and your vision for the future of China’s youth and economy. It’s encouraging to witness such proactive measures being put in place.
**Ni Hong:** Thank you for having me. Together, we can create an environment where our youth can thrive and contribute to our nation’s growth.
